The best discussion on global warming policy options that I have yet seen is in the July 2008 Reason (not yet on line but soon to be, and worth buying and reading in the print version if you cannot wait). Lynne Kiesling argues for cap-and-trade; Ronald Bailey prefers carbon taxes; Fred L. Smith likes neither and is optimistic that future technologies will cause use to look back and laugh at our current fears -- and at the Kyoto-protocols approach.
This three-sided discussion by three smart people is a useful conversation starter for any classroom discussion. I mean grade school through PhD seminars.